Houses with gardens are stil in high demand. Flats, not so much.
I think is very local. Central London is doing bad. Other places prices are not coming down (if anything going up)
London Property Prices -> Toilet
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I used to work for a PE firm in Cobham. I moved there for a while and I would rather kill myself than live in London’s suburbs. Even Chiswick is awful.
All these places (Cobham, Hampstead, Chiswick etc) are nice if you are a billionaire and can afford a mansion. Everybody else is going to be miserable soon. On top of that rent and prices are as expensive as in central London
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The suburbs that will boom are the likes of Croydon, which are excellent value for money.
Much better connections to London than Wimbledon
15 minutes to LiverPool Street on a brandnew Thameslink Train.
18 minutes to Victoria and then you take the Tube or walk to Green ParkLots of large Parks around
Grammar schools with Oxbridge placement record in Sutton at your doorstep.
Elite (as in only for the smart kids), but freeFinally, one million in this area will buy this:
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60803733&sale=10161412&country=england -
1-Your friend paid about 20k in stamp duty + other costs. Pretty sure he had to spend something more to fix things, but let's forget about this. Let's say he he made 180%
2- SP500 Jan 1 2010 $1,100 or GBP 687. Dec 31 2016 SP 500 $2,200 or GBP 1,538. + 124%
3- He literally bought at the bottom and sold at the top. So this is the best case scenario. Real estate outperforms the market only if prices appreciate like crazy. Good luck if you expect the same to happen looking forward1) 90% LTV mortgage means you have 10x leverage. S&P returns do not outperform real estate by 1000% over any historical period. Realistically its more like 200-300%. Levereaged real estate purchases on your primary residence is a far better investment than S&P.
2) Gains on real estate are tax free when its your primary residence, whereas S&P returns/dividends are taxed outside an ISA, and only £20k can be fed into an ISA each year so its less practical for investing large sums of money
3) Your S&P returns period is literally an example of 'buying at the bottom and selling at the top'. 2010-2020 has been a ridiculously good market of course, but it isn't the standard case and there is no reason to expect those returns to keep occurring in the futures. Whereas with real estate, 2-3% returns a year are the historical norm, and 10x leverage gets this up to 20-30%.Can you even do math? You pay for that leverage! The cost of borrowing is, say, 2-3%, so unless the return on housing is greater than 2-3% you are simply scaling up losses!
uh no, the 'cost' of the leverage is the mortgage interest you pay, which will roughly be equal to the rent that you would otherwise be paying. In other words, the leverage is essentially free (since you are no longer paying rent)
the level of personal finance knowledge on this thread is shockingly low. Leverage on your primary residence is essentially free and all leveraged gains are tax-free. Its literally the best investment you will ever get to make.Exactly, thank you. If I may add rent be is actually much higher than mortgage interest
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The suburbs that will boom are the likes of Croydon, which are excellent value for money.
Much better connections to London than Wimbledon
15 minutes to LiverPool Street on a brandnew Thameslink Train.
18 minutes to Victoria and then you take the Tube or walk to Green Park
Lots of large Parks around
Grammar schools with Oxbridge placement record in Sutton at your doorstep.
Elite (as in only for the smart kids), but free
Finally, one million in this area will buy this:
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60803733&sale=10161412&country=englandSure, if you want to live around middle managers.
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The suburbs that will boom are the likes of Croydon, which are excellent value for money.
Much better connections to London than Wimbledon
15 minutes to LiverPool Street on a brandnew Thameslink Train.
18 minutes to Victoria and then you take the Tube or walk to Green Park
Lots of large Parks around
Grammar schools with Oxbridge placement record in Sutton at your doorstep.
Elite (as in only for the smart kids), but free
Finally, one million in this area will buy this:
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60803733&sale=10161412&country=englandCroydon is crime ridden.
https://www.mylondon.news/news/south-london-news/london-crime-man-70-pushed-18869857 -
Lived in Kensington and Holborn. Felt safe at all times basically. As far as London suburbs go, I think there is a misconception here. If you are actually english, it might be acceptable for you to live there, but if you are an expat, you wanna live in a part of London that makes it somewhat interesting. Belgravia, kensington etc. are super safe
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Lived in Kensington and Holborn. Felt safe at all times basically. As far as London suburbs go, I think there is a misconception here. If you are actually english, it might be acceptable for you to live there, but if you are an expat, you wanna live in a part of London that makes it somewhat interesting. Belgravia, kensington etc. are super safe
Who lives in Holborn?! What's interesting around there?
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Lived in Kensington and Holborn. Felt safe at all times basically. As far as London suburbs go, I think there is a misconception here. If you are actually english, it might be acceptable for you to live there, but if you are an expat, you wanna live in a part of London that makes it somewhat interesting. Belgravia, kensington etc. are super safe
Who lives in Holborn?! What's interesting around there?
It was rather accidental, but you can walk to covent garden and soho, and yet i lived in a relatively quiet place. I enjoyed it.
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Lol walk to Covent Garden or soho... what for? Plus most polluted part of town.
With kids, I wouldn’t leave there even for free.Holborn is not great for kids, but still better than any of Hackney, Balham, Brixton, Shoredicth, Croydon etc...
Both are horrible with kids, with the difference that you could actually afford nicer places with the rent you pay in Holborn.
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Lol walk to Covent Garden or soho... what for? Plus most polluted part of town.
With kids, I wouldn’t leave there even for free.Holborn is not great for kids, but still better than any of Hackney, Balham, Brixton, Shoredicth, Croydon etc...
Both are horrible with kids, with the difference that you could actually afford nicer places with the rent you pay in Holborn.
I would rather live in a 2bedroom flat in Holborn than in a mansion in Croydon.
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Lol walk to Covent Garden or soho... what for? Plus most polluted part of town.
With kids, I wouldn’t leave there even for free.So you don't like covent garden or soho... London must feel great to you.
Covent Garden and soho are the elevators to hell. London is more than that.